Homework Answers
Solution
| Christmas Joy Company | ||||
| Flexible Budget | ||||
| For the Month Ended December 31, 2018 | ||||
|
Budget Amounts Per unit |
||||
| Units | 450 | 700 | 850 | |
| Sales revenue | $ 12.00 | $ 5,400.00 | $ 8,400.00 | $ 10,200.00 |
| Variable costs | $ 5.00 | $ 2,250.00 | $ 3,500.00 | $ 4,250.00 |
| Contribution margin | $ 3,150.00 | $ 4,900.00 | $ 5,950.00 | |
| Fixed costs | $ 1,200.00 | $ 1,200.00 | $ 1,200.00 | |
| Operating income | $ 1,950.00 | $ 3,700.00 | $ 4,750.00 | |
Fixed cost in totality do not change with change in activity level. Whether 450 units are sold or 700 the fixed cost in total will remain same.
Variable cost changes in totality. It increase when production increase and decrease when production decrease.
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